Arteris (NASDAQ:AIP) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Arteris (NASDAQ:AIP) in a report released on Friday morning, Benzinga reports. They currently have a $15.00 price objective on the stock.

Separately, Wedbush reissued an outperform rating and issued a $17.00 price objective on shares of Arteris in a report on Tuesday, February 20th.

Arteris Stock Up 15.2 %

Shares of AIP stock opened at $9.46 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.11. Arteris has a twelve month low of $4.13 and a twelve month high of $9.54. The stock has a 50 day moving average of $7.00 and a 200 day moving average of $6.21. The stock has a market cap of $364.02 million, a P/E ratio of -9.18 and a beta of 1.04.

Arteris (NASDAQ:AIP) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $11.90 million. Arteris had a negative net margin of 69.70% and a negative return on equity of 198.35%. As a group, sell-side analysts expect that Arteris will post -0.9 EPS for the current year.

Insider Buying and Selling

In other news, CEO K Charles Janac sold 10,103 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $71,024.09. Following the completion of the sale, the chief executive officer now owns 318,644 shares in the company, valued at $2,240,067.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Arteris news, CEO K Charles Janac sold 10,103 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $7.03, for a total transaction of $71,024.09. Following the sale, the chief executive officer now directly owns 318,644 shares in the company, valued at $2,240,067.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Paul L. Alpern sold 11,250 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $6.39, for a total value of $71,887.50. Following the transaction, the vice president now directly owns 81,042 shares of the company’s stock, valued at approximately $517,858.38. The disclosure for this sale can be found here. Insiders have sold 80,264 shares of company stock worth $561,883 in the last ninety days. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arteris

Several hedge funds and other institutional investors have recently modified their holdings of AIP. Worth Venture Partners LLC increased its stake in Arteris by 22.6% during the 3rd quarter. Worth Venture Partners LLC now owns 51,301 shares of the company’s stock valued at $334,000 after buying an additional 9,448 shares during the period. Federated Hermes Inc. lifted its stake in Arteris by 8.3% in the third quarter. Federated Hermes Inc. now owns 130,000 shares of the company’s stock valued at $846,000 after acquiring an additional 10,000 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Arteris during the 4th quarter worth about $60,000. Ibex Investors LLC bought a new stake in Arteris during the third quarter worth approximately $99,000. Finally, Barclays PLC acquired a new position in Arteris in the 3rd quarter valued at $120,000. Institutional investors own 64.36% of the company’s stock.

About Arteris

Arteris, Inc provides semiconductor interconnect intellectual property (IP) and System-on-Chip (Soc) Integration Automation software solutions (SIA) in the Americas, the Asia Pacific, Europe, and the Middle East. The company develops, licenses, and supports the on-chip interconnect fabric technology used in Soc designs and Network-on-Chip (NoC) interconnect IP.